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Top Monte Paschi shareholder sells 1.4 pct stake in the bank

Monday, 1 Oct 2012 | 12:03 AM ET

MILAN, Oct 1 (Reuters) - The main shareholder of Banca Monte dei Paschi di Siena said on Monday it had sold on the market a 1.41 percent stake in the world's oldest bank.

Monte Paschi, the country's third-biggest lender, was forced to request state aid in June to plug a capital shortfall and meet tougher European requirements.

The Monte Paschi Foundation is reducing its majority stake in the bank to let other investors' enter the capital.

Earlier this year the foundation cut its stake in the bank to 36.3 percent from 49 percent this year to repay creditors.

Last month, the foundation denied a media report suggesting it may sell all of its stake but said it was ready to sell another 2.8 percent if conditions were right.

(Reporting by Antonella Ciancio)

((Antonella.Ciancio@thomsonreuters.com)(+39 0266129722)(Reuters Messaging: antonella.ciancio.thomsonreuters.com@reuters.net))

Keywords: MONTEPASCHI/